DAOs launched for clinical trials

A report out in Politico that discusses the use of distributed autonomous organizations in clinical trials. Politico points out that modern healthcare has a problem: many diseases need better treatment, but the drug industry does not always have a financial incentive to develop new drugs or even test old ones on new diseases.

A company called Love Health wants to fund and test experimental treatments using a DAO, that stands for a decentralized autonomous organization. It is a a blockchain based crowdfunding mechanism, a DAO, allows funders to vote on what the group does. “Voters” here are likely to be patients and their families frustrated with a lack of progress on their disease, and willing to support new ideas the industry will not pursue.

Pharma companies and patients are gaining interest in using DAOs to connect. Politico reports of another case, Vibe Bio is using a DAO to involve patients in treatment research.

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